AL SB230

Adds Section 40-14A-44 to the Code of Alabama 1975 to exempt dormant legal entities from the state business privilege tax.

An entity qualifies as dormant if for two consecutive years prior to the taxable year it has not owned property, produced income, or carried out any business activity or function of any type.

Exemption applies even if the dormant entity fails to formally dissolve or withdraw its qualification to do business with the Secretary of State.

Becomes effective immediately upon passage and approval by the Governor.